How are the closing costs figured?
Closing costs include: (1) Real Estate Transfer Tax, which is 1.5% of the registered value of the property on the deed; (2) Documentary Stamps, which total approximately 1.25% of the registered value; (3) The Notary Fee, which is 1.5% of the first million Colones and 1.25% on the balance of the property sales price. This menas on the purchase of a $100,000 property, closing costs would be approximately $4,250, and the property taxes $250 per year or lower.
